Tag Archives: bp waterfront property claims

BP Settlement Waterfront Claims:

Mind you until we see the settlement this is conjecture, but educated conjecture.

Of all the claims, these BP Waterfront Claims are possibly the most valuable out of the whole Property Claims Program. The BP Settlement Waterfront Claims regard the properties along the coast line. These properties will be the ones that will have a Zone A connotation. BP Settlement Waterfront Claims, though seemingly a narrow class, are actually expansive under the BP Settlement.

BP Settlement Waterfront Claims will expand the class to all waterfront claims along the rivers, estuaries and bays from just west of New Orleans to just east of Pensacola, FL. Essentially, BP Settlement Waterfront Claims will open up the category from strictly beachfront property owners to property owners who had property among river banks and bays.

BP Settlement Waterfront Claims and zone A

Furthermore, the Zone A category expands up to 0.5 miles from the coast line and beaches for BP Settlement Waterfront Claims. This would mean that BP Settlement Waterfront Claims do not have to be directly on the beach, but it does mean that they would have to be close, within a few blocks from the beach, to qualify for Zone A standing.

Your BP Settlement Claims multiplier, as previously mentioned, will be factored in bare in mind that this multiplier for BP Settlement Waterfront Claims is not set, yet, as the Settlement Agreement has not been accepted by BP and has not been approved by the Eastern District Court.

BP Settlement Waterfront Claims expand to properties that suffered from oil spillage resulting from the Deepwater Horizon Incident of 4/20/10. BP Settlement Waterfront Claims also expand to loss of sales price. Where the Claimant had sold the property AFTER the Spill, than what the property was appraised for before the Spill. BP Settlement Waterfront Claims will also include cancelled contracts to buy your waterfront property.

BP Settlement Waterfront Claims and Contracts

On cancelled purchase contracts, BP Settlement Waterfront Claims will pay a percentage of the Pre-Spill sales price. There is some speculation as to what sales price to use in calculating BP Settlement Waterfront Claims’ loss from a cancelled contract, but it appears that the higher, Pre-Spill appraisal price will be used.

Keep in mind that the Settlement Agreement, and issues involving BP Settlement Waterfront Claims, have not been settled, yet. This will happen on 4/16/12, so be patient, we will release the facts as soon as they are presented to us. Thank you.

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